Not nit picking here but printed money is backed by assets. Eg. you own a house it's $value is backed by the house.
Now If you're a Central Bank, that's something else. There's just too much deflation working through the global financial system for QE to cause inflation. Eg. let's see if the FED raises rates this year. If it can't/doesn't..............last night will look like a mere blip.
